FIA no longer mentioning ‘cost cap’

Jan.24 (GMM/Inautonews.com) F1’s governing body has toned down its rhetoric on cost-cutting, having said in December it wanted to install a highly-controversial “global cost cap”.

But on Thursday, after a meeting of the World Motor Sport Council in Geneva, the FIA said only that the adoption of “cost reduction and cost control regulations” has been agreed, following a meeting involving Bernie Ecclestone and the F1 teams.

The FIA said the cost control regulations will be installed in 2015.

The full statement can be read at http://www.fia.com/world-motor-sport-council-2014-geneva